Consumer confidence hits five-month high in December

Based on the results of the consumer tendency survey conducted jointly by the Turkish Statistical Institute and the Central Bank of the Republic of Turkey, the Consumer Confidence Index, which was 75.5 in November, increased by 2.6 percent to 77.4 in December.

According to Turkish Statistical Institute data, while the index for the financial situation of households in the current period increased to 63.4, the expectation for the financial situation in the next 12 months was 76.1. Economic situation expectation was recorded as 75.8 on an annual basis, while it increased by 3.3 on a monthly basis.

Consumer expectations for spending on durable goods in the next 12 months also increased from 92.6 to 94.5 in December. Consumer Confidence Index indicates an optimistic situation in consumer confidence when it is above 100 and a pessimistic situation when it is less than 100. The increase in December indicates a positive change in the economic situation and spending expectations of consumers.